2024 'worst year ever' for builders falling like dominoes
More builders are set to fold in 2024 than ever before, as labour shortages, building costs and other factors hamper the construction sector.
Arnold Cho, a Perth-based Nicheliving customer, is one of thousands of home buyers around Australia to be left in financial difficulty with an unfinished home. (Image source: Arnold Cho, Nicheliving customer)
Just when it seemed there might be light at the end of the tunnel for the beleaguered building industry, it has emerged that insolvencies in the sector are well and truly on track to record their worst ever year.
Easing building costs and trades pressures have not been enough to stem the cascade of businesses hitting the wall.
There are now fewer construction companies to tackle the housing crisis, with nearly 3,000 absent this financial year d…
